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Paytm, India’s largest mobile payments and commerce platform, has acquired Near.in, a marketplace app for local services to ramp up focus on online to offline commerce (O2O). The financial terms of the deal were not disclosed.
Near.in operates in the hyperlocal services space across categories such as home needs, health and wellness, events and skills.
"We see enormous potential for O2O in India, which is a perfect blend of online and offline commerce. With this core belief, we have acquired Near.in and we will continue to invest more in this space. Near has a significant network of local service providers in place and a stellar team leading it. We are confident that their platform and team will add further strength to our other O2O initiatives, which is a key focus area for us," said Kiran Vasireddy, Senior Vice-President and head of investments at Paytm.
Near.in was launched by Wirkle co-founder Sunil Goyal, Lomesh Dutta, and Akshay Khanna in December 2014.
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